Can A Bigger Superior Refinery Lower Gas Prices? Economists Say No
Tiffany pitches expansion to cut Middle East reliance as Iran war drives up fuel costs statewide. U.S. Rep. Tom Tiffany has encouraged the expansion of Wisconsin's only oil refinery, Cenovus Energy, in Superior, to reduce reliance on the Middle East. However, energy experts argue that this would have little impact on local gas prices. The state produces no fossil fuels and imports crude oil and gas from Canada and North Dakota. The refinery has capacity to produce nearly 50,000 barrels per day of heavy fuel oils, asphalt and liquified petroleum gas, and historically produced around 17,500 barrels per days of gasoline. However Corbett Grainger, an energy economist at the University of Wisconsin-Madison, said expanding capacity could affect where we're producing some of the fuel we're consuming here but wouldn't eliminate our exposure to global oil prices.
प्रकाशित : 2 दिन पहले द्वारा Danielle Kaeding में Business Finance World
U.S. Rep. Tom Tiffany is encouraging the expansion of Wisconsin’s only oil refinery as a way to reduce reliance on the Middle East. But energy experts say that would have little effect on bringing dow... [4377 symbols]
विषय: Oil & Gas, Energy Sector, Oil Sector
